I have to completely disagree, though I buy "Application 2.0" for my computer, it is most probably still written in the same language and requires the same platform to run on (windows,linux,mac,etc), much like web 2.0 requires the same technology (HTML,JS,CSS,etc) to run.
The idea of "Web 2.0" is purely in the implementation of the technologies available, much like when an application increases its version when it finds new ways to implement new features using the same language as the previous version.
And if its not "Web 2.0" I'd like to know what you call it. The web today is definitely not the same web it was 5, 10, or 15 years ago. It is ever evolving even if the backbone technology stays the same.